Wednesday, August 17, 2011

Mid-Week Video Update - Tough for Bulls AND Tough for Bears Right Now - 8/17/11

Hi, traders. It's been a tough week to be a bull and a tough week to be a bear, as the intraday action has been choppy and difficult to do much with for more than a few hours or so. I went into this week with a bearish outlook, but to be honest, the bears have been VERY unimpressive in my opinion the past two sessions. Shorts have not worked well even though there are a lot of setups out there and the longer we go without breaking back down, the better odds there are for melt-up action to continue ala 2009 (heavier volume declines followed by weak volume moves higher).

The video includes some things to look for this week along with charts on both sides of the market. If we don't see some bearish action tomorrow, I may have to reassess my outlook and go back strictly to cash. Good luck Thursday and Friday.

I hope you find the video helpful and informative. As always, feel free to email me with questions or comments - I enjoy hearing from my readers. If you like the videos, please take a moment to leave a review on Investimonials.

To see the videos in HD, please click "720p" and "Full Screen" on the video bar - HD will be available after processing.

4 comments:

Congrats for not getting shaken out of $RAX - hope it compensate for the small losses.I see you points but I disagree the shorts aren't working - I agree with Zortrades's (http://stks.co/JY) post. My shorts are working too $RAX, FNSR, CBOU, SFI - (didn't benefit much cause of couple of hopeless long trades)Long plays for now I'll watch only for bottom bounces.There's mistake in the performance table with CNX trade.Good luckIvan

Hi Ivan. Some shorts are working but more likely than not the ones I saw break down a bit Tuesday actually gapped up on Wednesday, so looking at the candidates I was watching, I know I would have been stopped out on most early Wednesday (which would have just frustrated me even more).

Unfortunately, the CNX trade is not a mistake - it happed up after hours due to a news item (not earnings related so there was no warning). Had to cover. There is luck sometimes in trading - I was definitely not "lucky" on this one. It happens.

Overall Market Timing Score

March 20, 2014 -2March 19, 2014 +1(Max Score +6, Min Score -6)

The Market Timing Score has six factors that I record on a daily basis. These include breadth indicators, moving average indicators, accumulation and distribution indicators, and overbought and oversold indicators.

The max score of the Market Timing Score is +6, but this is very rare. Typically a score of +4 or +5 tells you that the market is very bullish. A score of +3 or +2 tells you that the market is bullish, but there are a few reasons for concern. A score of +1 or 0 tells you that cash is the best place to be. The scores work the exact same way on the negative side for bearish markets.

Get Every New Post By Email

Get New Posts via Reader

Recent Videos

Loading...

Search This Site

Search The Internet

Disclaimer

Chart Swing Trader is a website intended for the education of online stock traders. The website is an information service only. The information provided herein is not to be construed as recommendations to buy or sell stocks of any kind. They are simply the opinions of the author. It is possible that the editor of this blog may own, buy, or sell stocks presented. All investors should consult a qualified professional before trading any stock. The author is not an investment advisor. Any investments, trades, and/or speculations made in light of the ideas, opinions, and/or forecasts made by the author are committed at the reader's own risk, financial or otherwise.